A credit system recording university students' loan repayment status has been established in Shanghai City, the Shanghai Education Commission announced yesterday. Nearly 50 local universities signed a contract with the Shanghai Credit Information Service Co, the city's only consumer credit company, to keep track of some 30,000 loan applicants at local universities. Details of students' loan repayment will be recorded in applicants' personal account in the system. Those failing to repay loans will be marked down with a "tainted record" and can be deprived of future loans.

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